On September 11, we published an article titled "Will Solana Have a New Recovery?" The main conclusion at that time was that with the return of some large projects, it seemed to prove that Solana might have a large-scale recovery again. As shown in the figure below.

After these two months, everyone has seen the strength of the SOL ecosystem, and the price of SOL has increased by 3 times in just two months. As shown in the figure below.

As the Solana ecosystem recovers, some projects (tokens) in the ecosystem will inevitably have further room for growth. Therefore, today we continue to focus on the topic of SOL and review some of the projects in its ecosystem that are worth paying attention to.

The first project is Python Network

Pyth Network claims to be a game changer for DeFi oracles by aggregating and distributing price data for smart contract applications by leveraging the power of top exchanges, market makers, and financial service providers.

As an innovative decentralized oracle, Pyth is currently able to obtain financial market data from more than 90 information sources, including major global exchanges and market makers (such as CBOE, Binance, OKX, Bybit, etc.), and distribute data to 40+ blockchains.

The Pyth network currently consists of three core parts: data providers, Python protocols, and data users. Data providers are mainly the exchanges mentioned above, and the Python protocol is designed to aggregate data from different providers to create a unified price and confidence interval for each price source every 400 milliseconds. Data users (i.e., end users) are applications on blockchains supported by Pyth that read these aggregated price sources and seamlessly incorporate the data into their smart contract logic.

The second project is Bonk

Bonk is a new MEME Coin built on the Solana chain and the first Dogecoin (a dog-themed emoji token, similar to the well-known Shib) on the Solana chain available to the public. 50% of the total supply of the project's tokens has been airdropped to Solana's Degen and DeFi traders, NFT artists and developers. This large-scale airdrop distribution has also injected more liquidity into the Solana ecosystem.

Due to the successful revival of Solana, investors seem to have great hype interest in meme coins, which directly led to the further rise of BONK tokens. In addition, similar projects such as Samoyedcoin (SAMO) can also be paid attention to.

The third project is Orca

Orca is a DEX built on the Solana chain with a user-friendly interface. Users can perform asset swaps, provide liquidity, and other trading operations through an easy-to-use interface.

The fourth project is GenesysGo

GenesysGo is a network service provider on the Solana chain. They provide some relatively comprehensive services, including validator node operations, RPC maintenance and storage solutions.

Their core product, called ShdwDrive, is a decentralized, high-performance, and scalable object storage designed for Web3 builders. SHDW, as the utility token that powers the Shadow dePIN ecosystem, is able to provide users with decentralized storage, computing, network orchestration, and many other functions.

The fifth project is Raydium

Raydium is the first AMM and liquidity provider built on the Solana chain, and its core product is the Raydium DEX platform, which allows users to trade, exchange, and provide liquidity to earn returns.

Due to its AMM mechanism, Raydium has two basic characteristics:

One is to allow users to access Serum’s order book. The Serum order book is an on-chain protocol.

Second, its algorithm relies entirely on the Constant Function Automated Market Maker (CFAMM). The CFAMM algorithm uses a mathematical function to ensure that the reserve assets remain unchanged regardless of the transaction.

Raydium provides users with more choices by merging the above two protocols.

The sixth project is Star Atlas

Star Atlas is the first AAA NFT game based on the Solana chain, belonging to the Metaverse MMORPG (Massive Multiplayer Online Role-Playing Game) track. It is built on Unreal Engine 5, which enables the game to have a real-time environment comparable to cinematic quality, providing an immersive Metaverse gaming experience and combining the gaming experience with crypto assets.

As a crypto asset in the Star Atlas metaverse, ATLAS can be used as an entry fee for players to enter the game metaverse world, and is also a trading token for obtaining in-game ships, equipment, crew members and other props.

The seventh project is Access Protocol

Access Protocol is a Web3 protocol that brings a unique model for content creators to earn money from their work, which mainly uses ACS tokens to incentivize creators to produce high-quality content while allowing consumers to smoothly access multiple content providers.

That is to say, users do not need to set a payment threshold for content, but instead purchase ACS tokens and use them to obtain content access rights from various creators participating in the protocol ecosystem. Currently, they have integrated with more than 30 content platforms such as Coingecko, The Block, and Crypto Briefing.

The 8th project is Aurory

Aurory is a P2E role-playing game built on the Solana chain. Players can choose single-player adventure (PvE) or multiplayer competition (PvP). During the game, they will also obtain pets that can be used for battle (called Nefties in the game). The pet battle mode is a turn-based battle.

By playing the game, players can earn new NFTs, which can be sold directly to others, or they can stake NFTs. NFT staking is an interesting mechanism in the game, through which players can win in-game skins, unique legendary cards, power-ups, and more.

The ninth project is Marinade Finance

Marinade is currently the largest liquidity staking protocol on Solana, where users can stake SOL tokens to earn compound interest while helping to maintain the decentralization of the entire Solana ecosystem. Moreover, it can also be used to monitor all Solana validators and delegate to more than 100 of the best performing validators.

The 10th project is Solend

Solend is a decentralized lending protocol on Solana that currently supports borrowing 61 crypto assets from 20 funding pools.

And a few months ago (in August), Solend also launched a margin trading and improved points reward program, expanding its business beyond lending. Among them, margin trading allows trading with leverage, while the points program is a reward for those who deposit and borrow in the main pool, participate in margin trading, and contribute to the community.

Of course, in addition to the 10 projects listed above, there are actually some recent projects in the SOL ecosystem that are worth our attention, such as Solanium, Tulip Protocol, Myro, etc. Interested friends can check and learn about the projects by themselves. As shown in the figure below.

Well, that’s all for today’s post on the Hualihuawai public platform. If you think this article is useful, please give it a thumbs up and “read”.

Special thanks to: ardizor, 0xTHades, Senka (cover design)

Note: The above content is only a personal point of view and analysis, and is only for the purpose of popularization and communication among crypto enthusiasts, and does not constitute any investment advice. The crypto market is an extremely high-risk area, please treat it rationally, improve risk prevention awareness, and abide by the relevant laws and regulations of the country and region where you are located!